Minimum wage violations

Viet Nam News Khánh Dương An unpalatable fact about working overtime in Việt Nam was revealed in a survey conducted by Institute for Workers and Trade Unions not long ago. Vietnamese textile labourers work on average 47 to 60 extra hours per month, far exceeding the 30 overtime hours regulated in law. Looking to the calendar year, the overtime shifts one has to do each year might reach up to 500, even 600 hours. But the wages revealed in the survey were a bigger disappointment. Average overtime pay for every labourer is estimated at not higher than VNĐ1.34 million (US$58) per month. This accounts for only 22.4 per cent of their total monthly income. According to the current Labour Code which came into force in 2012, the number of overtime hours must not exceed 50 per cent of normal working hours in a day. A work week is 48 hours, plus 200 hours of overtime a year, and 300 under special circumstances. The current payment for 200 hours overtime … [Read more...] about Overtime regulations need careful thought

Vietnam fisheries int’l exhibition opens in HCM City Visitors to the Vietnam Fisheries International Exhibition (Vietfish) 2018 The Vietnam Fisheries International Exhibition (Vietfish) 2018 kicked off at the Saigon Exhibition and Convention Centre in Ho Chi Minh City on August 22. The event attracts 233 exhibitors from 14 countries and territories, including 153 of Vietnam, showcasing aquatic products in 374 booths. The numbers of both exhibitors and booths increase by 6.8 percent and 3.6 percent, respectively, from last year. Vietfish 2018, lasting through August 24, also features many workshops discussing the market situation, production trends and other hot topics in the fisheries sector at present. Ngo Van Ich, Chairman of the Vietnam Association of Seafood Exporters and Producers, said over the last 20 years, Vietfish has established itself as a leading and influential fisheries exhibition in Asia as seen in the surge of exhibitors, booths and visitors. He noted … [Read more...] about BUSINESS NEWS IN BRIEF 23/8

Tens of millions of salaried workers and employers in factories and industrial zones across the country are awaiting the wage recommendation from the National Wage Council. Intensive minimum wage debates may make people forget that the life of workers is also affected by many other things, those which can be done right away without debate - At the meeting held by the council to discuss the minimum wage hike for 2019, the Vietnam General Confederation of Labor (VGCL) proposed a hike of at least 8% for the minimum wage while the Vietnam Chamber of Commerce and Industry (VCCI) suggested keeping the status quo. Each side has its own reasons. According to a new report released by the VGCL, the current minimum wage can meet only 93% of the minimum living standard. Meanwhile, as per Resolution 27-NQ-TW issued recently, only two years remain for the wage hike so that by 2020 the region-based minimum wage must meet the minimum living standard. However, the resolution also states the … [Read more...] about Minimum wages and workers’ life

Bùi Đức Thụ. — Photo laodong.vn Bùi Đức Thụ, deputy chairman of the National Assembly’s Committee for Deputy Affairs, speaks to the Lao Động (Labour) newspaper on the need to tightly supervise people with power The Government and the Party have declared that they will give due punishment to any government officials found guilty of corruption. Do you think that with the Party and Government’s determination, Việt Nam will be able to push back against corruption? The fight against corruption launched by the Party and Government has received strong support from all Vietnamese people from all walks of life. Many big and serious corruption cases have been discovered and settled, earning high applause from the people. More recently, many senior Government officials, including ministers, army generals and even a Politburo member have been arrested for corruption. This is an indication of the Party and … [Read more...] about Corruption must be rooted out

JLL reports on real estate M&A in first half Vietnam’s real estate market continued to exhibit irresistible appeal among foreign investors in the first half of 2018 and continued to witness high-value merger and acquisition (M&A) transactions in a variety of sectors such as residential, commercial, and industrial, according to Ms. Khanh Nguyen, Associate Director, Capital Markets, Vietnam, at JLL. Joint ventures have become popular among foreign developers who have strong financial capacity and track record, with them joining forces with local developers who own land and have strong connections with the local community. Foreign investors are from many different countries, such as Japan, South Korea, and Singapore, and with an increasing number of groups from Mainland China. JLL observes that there is an increasing number of local investors who are actively seeking real estate deals alongside foreign investors. 2018 started off with the acquisition of Sun Wah office tower … [Read more...] about BUSINESS NEWS IN BRIEF 3/8